WASHINGTON (AP) — The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. The move the Fed announced after its latest policy meeting will increase its benchmark short-term rate, which affects many consumer and business loans.
NEW YORK (AP) — Independent booksellers are growing in number and becoming more diverse. Membership in the American Booksellers Association currently stands at just over 2,000. That's its highest total in years and more than 100 over the previous summer.
NEW YORK (AP) — Stocks are opening higher on Wall Street Wednesday but remain sharply lower for the week as trading remains volatile ahead of a closely watched decision later in the day on interest rates from the Federal Reserve. Treasury yields were easing but remain at the highest level in more than a decade as investors expect inflation to remain difficult to control for some time.
NEW YORK (AP) — Wall Street is closing mostly lower on Tuesday, a day after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy. The S&P 500 slipped 0.4% after another day of unsteady trading. Investors are bracing to see how big of an interest rate hike the Federal Reserve will make on Wednesday.
ALBUQUERQUE, N.M. (AP) — A technology company that wants to bring broadband to more remote areas and monitor emissions from the oil and gas industry has launched one of its airships from the New Mexico desert. Tuesday's liftoff by Sceye Inc. is the latest test of the company's high-altitude platform station.
NEW YORK (AP) — Wall Street is wobbling Tuesday in its first trading after tumbling into a bear market on worries central banks will clamp the brakes too hard on the economy. The S&P 500 was 0.2% lower in midday trading as investors brace for the Federal Reserve’s announcement on Wednesday about what it will do with interest rates.
NEW YORK (AP) — Wall Street tumbled into a bear market Monday after fears about a fragile economy sent the S&P 500 more than 20% below its record set early this year. The index sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse. The Dow was briefly down more than 1,000 points.
NEW YORK (AP) — Wall Street is tumbling Monday amid fears a recession is more likely given how unshakeable inflation has become. The S&P 500 was 2.7% lower in the first trading after investors had the weekend to reflect about a stunning report that showed inflation is getting worse, not better as some had hoped.
NEW YORK (AP) — Wall Street’s shuddering realization that inflation got worse last month, not better as hoped, sent markets reeling on Friday. The S&P 500 sank 2.9% to lock in its ninth losing week in the last 10. Tumbling bond prices sent Treasury yields to their highest levels in years. Wall Street took Friday’s worse-than-expected reading on inflation to mean the Fed’s foot will remain firmly on the brake for the economy.
WASHINGTON (AP) — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year increase of 8.3%.